Ethereum

United

Prime

Grayscale, a company that manages cryptocurrency assets, has moved over $1 billion worth of Ethereum to Coinbase Prime, leading to speculation in the market.  
There are differing opinions regarding Grayscale's intentions, with some speculating that they are planning to sell off their assets to invest in alternative crypto such as Solana. On the other hand, some view this as a regular part of their business operations.  
This decision is in line with the imminent introduction of <a href="https://optimisus.com/news/crypto-news/the-us-sec-approves-the-first-ever-ethereum-etf-marking-a-major-milestone/" rel="noopener noreferrer nofollow">Ethereum exchange-traded funds (ETFs)</a> in the United States. Grayscale recently transferred 10% of its Grayscale Ethereum Trust assets to its new Ethereum ETF.  
To facilitate this change, Grayscale moved $1 billion from its $10 billion Assets Under Management (AUM) in ETHE to Coinbase Prime.  
Jon Campagna, the managing partner at Nexyst Digital and a former associate of Coinfund and BlackRock, refuted these assertions, stating that it is improbable for Grayscale to redistribute its Ethereum assets.  
In addition, Grayscale has upheld its 2.5% charge on ETHE, which is notably greater than that of its rivals. Wintermute, a company specializing in algorithmic trading, emphasized prudence by warning that the demand for Ethereum exchange-traded funds (ETFs) could perhaps be lower than anticipated.  
Nevertheless, analysts have a positive outlook on the initial launch, with Matt Hougan, the chief investment officer of Bitwise Asset Management, expressing confidence that Ethereum has the potential to achieve a value of $5,000. 
The post <a href="https://optimisus.com/news/crypto-news/grayscale-moves-1-billion-in-ethereum-to-coinbase-prime-ahead-of-the-us-etf-launch/" rel="noopener noreferrer nofollow">Grayscale moves over $1 billion in Ethereum to Coinbase Prime ahead of the US ETF launch</a> appeared first on <a href="https://optimisus.com" rel="noopener noreferrer nofollow">Optimisus</a>.

Grayscale moves over $1 billion in Ethereum to Coinbase Prime ahead of the US ETF launch

Optimisus

Other articles published on Jul 23, 2024

Kamala Harris could be ‘far more open’ to crypto business, Mark Cuban says

Franklin Templeton Bitcoin Layer 2s Massive $1.6T Opportunity Potential!

Bitcoin, Dogecoin Dip, Ethereum Outperforms As ETH ETFs Capture 20% of BTC ETF Inflows: 'Was This...

Stellar Strategies: MoonBag's Presale Draws Crowds with Promising Perks, While Coti Charts a Cour...

Impossible Cloud Network Reveals Strategic Roadmap for Decentralized Cloud Platform

Swisstronik Launches Incentivized Testnet 2.0 For Crypto Enthusiasts And Developers

Join our free newsletter for daily crypto updates!